By  on May 9, 2017

Fossil Group Inc.’s stock took a sharp downward turn after the company reported another sales decline along with a loss for the first quarter.

Shares of Fossil fell 19.3 percent to $14.64 in after-hours trading. The company’s first-quarter sales dropped 12 percent to $78 million. Net losses tallied $48.2 million and compared with a net income of $5.8 million a year earlier.

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